TAS Hobart is absolutely flying

Well presented. Makes a huge difference, regardless of market.

 

I'm surprised at the price of this one, with work required in it before living (ok not sure of overall house size etc)

1 Trevatt Court, Lutana, Tas 7009 - Property Details

Not sure what the advertised price was.

 

Close to the "zinc works" too.

 

Seems to be an increase in crime in Claremont lately (including local pizza shop burnt to ground) that would worry me. Hopefully things improve.

 

Nyrstar

 

Maybe they wanted their pizza " crispy " .

Lucky for my sister that her East side , walk station house in Roseville didn't crash when someone was murdered in the house behind them.......

Seriously .. Any suburb in Australia will have elements of crime . If you were raising that in the context of Ravenswood or Gagebrook you might have a case .. or maybe you're trying to discourage people from buying there because you don't want competition . I've had that happen on the forum . I asked a " forum guru " about Redcliffe , to be told it was Deadcliffe , only to find out that they'd been buying there at the time I asked , but didn't want competition.....

Cliff

 

That's basic Due diligence on Lutana and doesn't seem to worry the locals too much and doesn't seem to make it a no go area. one of the first things you find out about it . Just don't dig to deep down ... We looked around there as well , but like all of the moonah to Glenorchy area it's gone up around 15-20 % in the last year or so .

Follow the wave .

Chances are in a years time that place in Lutana will look like a bargain.

Cliff

 

No, I have nothing to get out of my comment. Your comment seems quite nasty. It was a simple matter of fact, any one taking the time to look it up would find what I say is factually correct. I would avoid the area at the moment due to a surge in crime and an area that shows signs of distress. Certainly not the worst spot but not the best either. No need to attack someone personally for pointing out issues in an area. Every area has them. By all means buy there and tell me how you get on.

 

If everyone jumped over a cliff...would you?

 

So now we're all lemmings are we

I'm not into jumping off cliff's now days , though I have done it in the past , with a well secured safety rope

When I've looked at Tasmania in the past it has gone up in each previous cycle , much the same as everywhere else . We paid 220 for a block of 4 units in New Town in 2003 and now it's renting for close to 900 / week . At the time we were ridiculed for buying in Hobart by several forumites as Tasmania would never go up . So far it's our best investment todate .

In the last cycle Tasmania ( and even Queenstown , Gagebrook and Ravenswood .. -.) boomed at a time when it's population and economy was going backwards , while that isn't the case at the moment. When we bought in New Town I remember seeing houses for sale in Ravenswood in the 30's

Rents are increasing , vacancies rates are as close to zero ( lowest of any capital city ) . Central Hobart has been moving for 2-3 years and in the last year the middle ring has started moving and now it's hitting the outer ring .

When I talked to the agent about the linked property in Claremont she commented how locals / FHB are waiting for the market to stop so they can buy something cheeper . My observation is that this happens a market takes off . Often locals are the last to realise what is happening as they are so use to what is " normal " for that market and have forget that things change .

When we bough in Logan and rocky last cycle all of the locals were puzzled as to why all these Crazy interstate investors would buy in those places .

We seriously thought about selling a couple in Brisbane to buy more in Hobart , but Brisbane seems to be starting to pick up so the change over costs are probably not worth it .

Personally I was expecting Brisbane to take off before Hobart , but at this stage Hobart seems to be reversing the trend and I think that is because of the perceived strength of the Tasmanian economy with the Mona effect / Dark **** / Tourism / Food industry / Wine / distilleries / Lion, White flighters and a perception that Tasmania a nice quite place , rather than a back water . It also has a very effective and ( down there ) popular politician who has managed to swing deals to benefit Tasmania ( and Veterans ) in return for her vote . If I was living there , I'd vote for her.

Cliff .

 

A much better, well informed answer. I think the market appears to be in a growth phase at the moment, that is for sure. I am not convinced that the growth is sustainable but time will tell. Many families rent and that makes investment a tempting proposition in Tasmania.

 

This looks fun

A boom bigger than Sydney beckons for this city!

 

Its interesting how little commentary there is on PC about Tasmania considering its Australias hottest market at the moment

I just read this snippet

"Queensland
Very high levels of development have impacted the Brisbane market, but buyer demand remains high and has increased in recent months. Offshore interest has also increased, with a growth in property seekers from China looking at Brisbane. It’s now seeing the second-highest growth in terms of interest to Chinese buyers behind Hobart. "

Australia’s most in-demand suburbs

 

hmmmm...if ya are a savy investor why would youse arsk anyone?

lessons have told me to avoid the bottom end socio areas. if one is going into kingston...woodridge...gagebrook...or bridgewater one needs their head checked

i remember you asking about buying in melbourne....did you buy any there?

 

mm, I'm seeing a little of the same over the last little while. DoM also stretching out a little in the northern 'burbs (disclaimer - not verified data, just observations on the feel of the market at moment.)

 

Corelogic figures put Hobart's current TOM at 23 days. Melbourne and Sydney both 29 days.
Hobart's listings are down 35% from this time last year.

CoreLogic Weekly Market Update Week Ending 2017 November 19

 

Hush now...

I agree with above though... It is weirdly quite on PC about Tassie considering how hot it is on the ground with rental and sales.

 

Too many forumites live in Brissie and Adelaide ....

Vested interests .

Last cycle there were more high profile members invested down there so more chat .

Still debating about buying more , but first we have to sell one in brissie

Hobart booming and Launceston starting to move .

Cliff

 

Its perception, investors not keen on Tassie, see this as higher risk proposition, concerns regarding size of pop, jobs.... not in same league as Syd and Melb

If its booming then there are opportunities to make money, but many will need to change mind set. It wont happen IMO....shame ...

 

My brother looked at that, I'm pretty sure it was advertised as "high 200's". He was thinking he could get it for 250ish